secwatch.observer — SEC 8-K summary
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Issuer:     Enphase Energy, Inc. (ENPH)
CIK:        0001463101
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001463101-23-000163
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Enphase Q3 rev $551M (-22.5% QoQ), EPS $0.80; guides Q4 $300-350M on weak Europe demand
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- Q3 revenue $551.1M vs $711.1M QoQ and $634.7M YoY; GAAP diluted EPS $0.80, non-GAAP $1.02.
- Q4 revenue guidance slashed to $300-350M (down 36-46% QoQ) on high distributor inventory and softening demand in Europe and US.
- Europe revenue fell 34% QoQ; US down 16%; macroeconomic conditions and inventory bloat cited.
- Non-GAAP gross margin 48.4% (up 220bps QoQ) helped by net IRA benefit of 2.6%; operating income $167.6M non-GAAP.
- Ended Q3 with $1.78B cash; repurchased $110M in stock; Q3 operating cash flow $145.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1463101/000146310123000163/0001463101-23-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1463101/000146310123000163/enph-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001463101-23-000163

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